IOTA: A Cryptoplatform for Securing Transactions on the IoT

IOTA is a decentralized, micro-transaction token that is geared towards the Internet of Things (IoT). The crypto-token runs off of Tangle, which has similarities to a blockchain but is much more versatile. The Tangle Ledger Tangle is a cryptocurrency that was developed for the Internet of Things in 2015. The aim of the project was to enable machine-to-machine payment transactions and ensure accurate and consistent data was being maintained. The idea was conceived when the creators realized that most internet-connected devices need a secure way to transfer data and transactions in order for the whole IoT to work smoothly. You can read more about Tangle here (PDF). While there are other forms of cryptocurrencies, such as Bitcoin, they have their drawbacks. One such drawback is that there is no way to make micro-payments. The need for these micro-payments has recently increas...